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Rice Acquisition Corp. II (RONI) Financials

Rice Acquisition Corp. II logo
$1.98 -0.01 (-0.50%)
As of 05/4/2026
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Annual Income Statements for Rice Acquisition Corp. II

Annual Income Statements for Rice Acquisition Corp. II

This table shows Rice Acquisition Corp. II's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2024 2025
Period end date 12/31/2022 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -55 -49 -579
Consolidated Net Income / (Loss)		 -55 -165 -1,673
Net Income / (Loss) Continuing Operations		 -55 -165 -1,673
Total Pre-Tax Income 		-55 -175 -1,678
Total Operating Income		 -50 -181 -1,792
Total Gross Profit		 0.31 0.22 0.00
Total Revenue		 0.58 0.25 0.00
Operating Revenue		 0.58 0.25 0.00
Total Cost of Revenue		 0.28 0.03 0.00
Operating Cost of Revenue		 0.28 0.03 0.00
Total Operating Expenses		 50 182 1,792
Selling, General & Admin Expense		 17 30 40
Marketing Expense		 0.80 3.87 4.91
Research & Development Expense		 19 66 172
Depreciation Expense		 13 82 62
Impairment Charge		 - 0.00 1,512
Total Other Income / (Expense), net		 -4.75 6.10 114
Interest & Investment Income		 - 31 20
Other Income / (Expense), net		 0.04 -25 94
Income Tax Expense		 0.00 -11 -4.31
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 -115 -1,095
Basic Earnings per Share		 ($14.79) ($0.67) ($7.34)
Weighted Average Basic Shares Outstanding		 3.70M 73.40M 78.82M
Diluted Earnings per Share		 ($14.79) ($0.67) ($7.34)
Weighted Average Diluted Shares Outstanding		 3.70M 73.40M 78.82M
Weighted Average Basic & Diluted Shares Outstanding		 43.13M 217.63M 224.42M

Quarterly Income Statements for Rice Acquisition Corp. II

This table shows Rice Acquisition Corp. II's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 3/31/2023 9/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -17 -31 -31 -11 -4.27 0.82 -34 -119 -28 -411 -20
Consolidated Net Income / (Loss)		 -17 -92 -92 -42 -17 -6.81 -99 -374 -82 -1,160 -58
Net Income / (Loss) Continuing Operations		 -17 -92 -92 -42 -17 -6.81 -99 -374 -82 -1,160 -58
Total Pre-Tax Income 		-17 -92 -92 -46 -20 -12 -98 -373 -84 -1,161 -60
Total Operating Income		 -17 -39 -39 -39 -45 -47 -50 -475 -91 -1,156 -70
Total Operating Expenses		 17 39 39 39 45 47 50 475 91 1,146 80
Selling, General & Admin Expense		 5.67 8.10 8.39 6.41 7.79 8.45 7.62 8.69 14 9.11 8.97
Marketing Expense		 0.34 0.93 0.93 0.75 0.88 1.03 1.21 1.19 1.49 1.40 0.84
Research & Development Expense		 7.74 9.59 9.32 12 16 18 20 27 54 25 66
Depreciation Expense		 3.33 20 20 20 20 20 21 22 22 16 3.45
Impairment Charge		 - - - 0.00 0.00 0.00 - 416 0.00 1,096 0.48
Total Other Income / (Expense), net		 -0.03 -53 -53 -6.89 25 36 -48 101 6.89 4.84 0.93
Interest & Investment Income		 - - 8.68 7.69 9.03 7.99 - 5.88 5.47 4.84 4.12
Other Income / (Expense), net		 0.00 -62 -62 -15 16 28 -55 95 1.42 0.00 -3.19
Income Tax Expense		 0.00 -0.01 -0.01 -4.04 -2.35 -4.75 0.56 0.40 -1.62 -1.18 -1.90
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 -61 -61 -30 -13 -7.63 -65 -254 -54 -748 -38
Basic Earnings per Share		 ($4.55) ($0.44) ($0.44) ($0.16) ($0.06) $0.01 ($0.46) ($1.55) ($0.36) ($5.28) ($0.15)
Weighted Average Basic Shares Outstanding		 3.75M 68.97M 68.97M 71.90M 72.18M 73.54M 73.40M 77.00M 77.70M 77.88M 78.82M
Diluted Earnings per Share		 ($4.55) ($0.44) ($0.44) ($0.16) ($0.06) $0.01 ($0.46) ($1.55) ($0.36) ($5.28) ($0.15)
Weighted Average Diluted Shares Outstanding		 3.75M 68.97M 68.97M 71.90M 72.18M 73.54M 73.40M 77.00M 77.70M 77.88M 78.82M
Weighted Average Basic & Diluted Shares Outstanding		 43.13M 213.07M - 213.77M 215.37M 215.42M 217.63M 219.07M 219.22M 222.14M 224.42M

Annual Cash Flow Statements for Rice Acquisition Corp. II

This table details how cash moves in and out of Rice Acquisition Corp. II's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2024 2025
Period end date 12/31/2022 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 4.72 -205 -130
Net Cash From Operating Activities		 -17 -32 -121
Net Cash From Continuing Operating Activities		 -17 -32 -121
Net Income / (Loss) Continuing Operations		 -55 -165 -1,673
Consolidated Net Income / (Loss)		 -55 -165 -1,673
Depreciation Expense		 13 82 62
Non-Cash Adjustments To Reconcile Net Income		 27 56 1,487
Changes in Operating Assets and Liabilities, net		 -2.16 -4.42 3.05
Net Cash From Investing Activities		 -0.12 -169 -8.81
Net Cash From Continuing Investing Activities		 -0.12 -169 -8.81
Purchase of Property, Plant & Equipment		 -0.12 -70 -34
Purchase of Investments		 0.00 -170 -186
Sale and/or Maturity of Investments		 - 71 212
Net Cash From Financing Activities		 21 -4.93 -0.23
Net Cash From Continuing Financing Activities		 21 -4.93 -0.23
Issuance of Common Equity		 30 0.00 0.14
Other Financing Activities, net		 0.00 -4.93 -0.37
Cash Interest Paid		 0.08 0.00 0.03
Cash Income Taxes Paid		 - 0.00 0.00

Quarterly Cash Flow Statements for Rice Acquisition Corp. II

This table details how cash moves in and out of Rice Acquisition Corp. II's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 12/31/2022 3/31/2023 6/7/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 -4.11 0.08 2.71 -108 -21 -19 -57 -29 -16 -55 -30
Net Cash From Operating Activities		 -4.00 -5.14 -5.48 -2.66 -8.17 -7.84 -13 -20 -25 -48 -28
Net Cash From Continuing Operating Activities		 -4.00 -5.14 -5.51 -2.66 -8.17 -7.84 -13 -20 -25 -48 -28
Net Income / (Loss) Continuing Operations		 -17 -17 -17 -42 -17 -6.81 -99 -374 -82 -1,160 -58
Consolidated Net Income / (Loss)		 -17 -17 -17 -42 -17 -6.81 -99 -374 -82 -1,160 -58
Depreciation Expense		 3.35 3.27 2.53 20 37 20 21 22 22 16 3.45
Non-Cash Adjustments To Reconcile Net Income		 9.20 6.44 5.38 22 -8.21 -20 62 350 16 1,117 4.32
Changes in Operating Assets and Liabilities, net		 0.89 2.21 3.69 -3.33 -2.84 -1.32 2.60 -18 19 -20 22
Net Cash From Investing Activities		 -0.12 -0.62 -1.82 -106 -13 -11 -39 -8.76 8.66 -6.63 -2.07
Net Cash From Continuing Investing Activities		 -0.12 -0.62 -1.82 -106 -13 -11 -39 -8.76 8.66 -6.63 -2.07
Purchase of Property, Plant & Equipment		 -0.12 -0.62 -1.82 -9.52 -8.28 -22 -30 -9.44 -3.41 -3.31 -18
Purchase of Investments		 - 0.00 - -96 -26 -9.91 -38 -25 -106 -26 -30
Sale and/or Maturity of Investments		 - - - 0.00 - 22 29 25 118 22 46
Net Cash From Financing Activities		 0.00 5.84 10 0.00 0.06 -0.15 -4.84 -0.05 -0.05 -0.07 -0.07
Net Cash From Continuing Financing Activities		 0.00 5.84 10 0.00 0.06 -0.15 -4.84 -0.05 -0.05 -0.07 -0.07
Other Financing Activities, net		 - - - 0.00 - -0.15 -4.84 -0.05 -0.05 -0.07 -0.21

Annual Balance Sheets for Rice Acquisition Corp. II

This table presents Rice Acquisition Corp. II's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 348 78 2,471 2,294 600
Total Current Assets		 3.33 7.50 641 513 344
Cash & Equivalents		 2.57 5.16 537 329 199
Short-Term Investments		 - 0.00 100 178 138
Note & Lease Receivable		 - 0.00 1.94 3.68 1.38
Prepaid Expenses		 0.75 0.18 1.87 1.77 4.50
Plant, Property, & Equipment, net		 0.00 70 97 151 33
Total Noncurrent Assets		 345 1.05 1,733 1,630 223
Long-Term Investments		 - - 0.00 23 38
Goodwill		 - 0.00 424 360 0.00
Intangible Assets		 - 0.26 1,307 1,241 182
Other Noncurrent Operating Assets		 345 0.78 2.21 5.80 3.37
Total Liabilities & Shareholders' Equity		 348 78 2,471 2,294 600
Total Liabilities		 42 14 140 132 64
Total Current Liabilities		 0.52 8.45 12 18 47
Accounts Payable		 0.14 0.58 0.62 3.09 1.44
Accrued Expenses		 0.38 2.39 11 14 7.57
Other Current Liabilities		 - 5.48 0.49 1.20 38
Total Noncurrent Liabilities		 42 5.28 128 114 17
Asset Retirement Reserve & Litigation Obligation		 - 2.42 2.06 3.27 3.60
Noncurrent Deferred & Payable Income Tax Liabilities		 - 0.00 58 4.31 0.00
Other Noncurrent Operating Liabilities		 30 2.87 68 106 13
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 345 0.00 1,546 1,507 331
Total Equity & Noncontrolling Interests		 -39 64 785 656 204
Total Preferred & Common Equity		 -39 64 785 656 204
Preferred Stock		 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -39 64 785 656 204
Common Stock		 0.00 289 852 772 898
Retained Earnings		 -39 -225 -67 -116 -695
Accumulated Other Comprehensive Income / (Loss)		 - 0.02 0.00 0.03 0.13

Quarterly Balance Sheets for Rice Acquisition Corp. II

This table presents Rice Acquisition Corp. II's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 348 349 355 2,491 2,445 2,357 2,337 1,839 1,789 630
Total Current Assets		 2.68 2.41 1.06 651 600 583 564 498 409 370
Cash & Equivalents		 2.13 2.01 0.84 545 429 405 386 300 284 229
Short-Term Investments		 - - - 100 169 174 173 191 119 136
Note & Lease Receivable		 - - - 2.90 0.37 0.81 2.36 5.13 1.73 1.47
Prepaid Expenses		 0.55 0.40 0.20 2.66 1.50 2.35 2.41 2.08 3.38 2.73
Plant, Property, & Equipment, net		 0.00 0.00 0.00 92 101 108 131 100 97 16
Total Noncurrent Assets		 346 347 354 1,748 1,744 1,666 1,642 1,241 1,284 244
Long-Term Investments		 - - - - 28 27 18 10 69 56
Goodwill		 - - - 424 424 360 360 0.00 0.00 0.00
Intangible Assets		 - - - 1,324 1,290 1,274 1,258 1,225 1,208 184
Other Noncurrent Operating Assets		 346 347 354 0.18 2.12 4.85 5.78 5.97 7.17 3.77
Total Liabilities & Shareholders' Equity		 348 349 355 2,491 2,445 2,357 2,337 1,839 1,789 630
Total Liabilities		 18 20 47 229 150 116 91 40 59 47
Total Current Liabilities		 0.65 1.54 5.84 9.41 11 15 27 21 42 22
Accounts Payable		 0.00 0.06 0.03 1.69 2.67 1.98 3.64 0.85 1.05 1.31
Accrued Expenses		 0.65 1.47 5.82 7.43 7.21 12 18 10 10 11
Other Current Liabilities		 - - - 0.29 0.67 0.60 5.21 10 31 9.52
Total Noncurrent Liabilities		 18 19 41 220 139 101 64 19 17 25
Asset Retirement Reserve & Litigation Obligation		 - - - 2.02 2.10 2.15 2.19 3.35 3.43 3.51
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - 64 63 42 16 4.70 3.08 1.90
Other Noncurrent Operating Liabilities		 5.94 7.17 29 154 74 58 45 11 11 20
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 345 347 354 2,157 1,636 1,511 1,478 1,161 1,114 439
Total Equity & Noncontrolling Interests		 -16 -18 -46 104 660 730 767 637 616 144
Total Preferred & Common Equity		 -16 -18 -45 104 660 730 767 637 616 144
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -16 -18 -45 104 660 730 767 637 616 144
Common Stock		 0.00 0.00 0.00 193 738 813 849 873 880 819
Retained Earnings		 -16 -18 -45 -89 -78 -83 -82 -235 -264 -675
Accumulated Other Comprehensive Income / (Loss)		 - - - 0.00 0.22 -0.07 0.11 0.04 0.06 0.12

Annual Metrics And Ratios for Rice Acquisition Corp. II

This table displays calculated financial ratios and metrics derived from Rice Acquisition Corp. II's official financial filings.

Metric 2022 2024 2025
Period end date 12/31/2022 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - 222,142,079.00
DEI Adjusted Shares Outstanding		 - - 222,142,079.00
DEI Earnings Per Adjusted Shares Outstanding		 - - -2.60
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 -35 -127 -1,254
Return On Investment Capital (ROIC_SIMPLE)		 - -19.36% -615.11%
Earnings before Interest and Taxes (EBIT)		 -50 -207 -1,698
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -37 -125 -1,636
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 219
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 59 1,632 159
Increase / (Decrease) in Invested Capital		 0.00 0.00 -1,473
Book Value per Share		 $1.49 $3.04 $0.92
Tangible Book Value per Share		 $1.49 ($4.39) $0.10
Total Capital		 64 2,162 535
Total Debt		 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00
Net Debt		 -5.16 -530 -376
Capital Expenditures (CapEx)		 0.12 70 34
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -6.12 -12 -42
Debt-free Net Working Capital (DFNWC)		 -0.96 495 296
Net Working Capital (NWC)		 -0.96 495 296
Net Nonoperating Expense (NNE)		 20 38 419
Net Nonoperating Obligations (NNO)		 -5.16 -530 -376
Total Depreciation and Amortization (D&A)		 13 82 62
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.18 ($0.67) ($7.34)
Adjusted Weighted Average Basic Shares Outstanding		 43.13M 73.40M 78.82M
Adjusted Diluted Earnings per Share		 $0.00 ($0.67) ($7.34)
Adjusted Weighted Average Diluted Shares Outstanding		 43.13M 73.40M 78.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 43.13M 217.63M 224.42M
Normalized Net Operating Profit after Tax (NOPAT)		 -35 -127 -196
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Rice Acquisition Corp. II

This table displays calculated financial ratios and metrics derived from Rice Acquisition Corp. II's official financial filings.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 3/31/2023 9/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 222,142,079.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 222,142,079.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.09
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -12 -27 -27 -27 -31 -33 -35 -332 -63 -810 -49
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - -5.39% -52.13% -10.29% -563.12% -24.08%
Earnings before Interest and Taxes (EBIT)		 -17 -101 -101 -53 -29 -20 -105 -379 -89 -1,156 -73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -14 -81 -81 -33 8.30 0.66 -84 -357 -67 -1,141 -70
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.39 -1,315 300 -1,390 -50 -1,701 0.00 40 313 698 1,424
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 307 1,616 0.00 1,670 1,635 1,668 1,632 1,298 1,258 161 159
Increase / (Decrease) in Invested Capital		 -14 1,288 -327 1,363 18 1,668 0.00 -372 -376 -1,507 -1,473
Book Value per Share		 ($1.05) $0.50 $0.00 $3.09 $3.42 $3.56 $3.04 $2.93 $2.81 $0.66 $0.92
Tangible Book Value per Share		 ($1.05) ($7.83) $0.00 ($4.93) ($4.23) ($3.95) ($4.39) ($2.70) ($2.70) ($0.18) $0.10
Total Capital		 308 2,261 0.00 2,296 2,241 2,246 2,162 1,799 1,730 582 535
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -0.84 -645 0.00 -626 -607 -578 -530 -501 -472 -422 -376
Capital Expenditures (CapEx)		 0.62 0.00 0.00 9.52 8.28 22 30 9.44 3.41 3.31 18
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -5.63 -3.80 0.00 -8.31 -11 -22 -12 -14 -37 -18 -42
Debt-free Net Working Capital (DFNWC)		 -4.79 641 0.00 589 569 537 495 477 367 347 296
Net Working Capital (NWC)		 -4.79 641 0.00 589 569 537 495 477 367 347 296
Net Nonoperating Expense (NNE)		 5.14 65 65 14 -14 -26 64 41 19 350 8.89
Net Nonoperating Obligations (NNO)		 -0.84 -645 0.00 -626 -607 -578 -530 -501 -472 -422 -376
Total Depreciation and Amortization (D&A)		 3.27 20 20 20 37 20 21 22 22 16 3.45
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.10) ($0.44) $0.00 ($0.16) ($0.06) $0.01 ($0.46) ($1.55) ($0.36) ($5.28) ($0.15)
Adjusted Weighted Average Basic Shares Outstanding		 43.13M 68.97M 0.00 71.89M 72.18M 73.54M 73.40M 77.00M 77.70M 77.88M 78.82M
Adjusted Diluted Earnings per Share		 $0.00 ($0.44) $0.00 ($0.16) ($0.06) $0.01 ($0.46) ($1.55) ($0.36) ($5.28) ($0.15)
Adjusted Weighted Average Diluted Shares Outstanding		 43.13M 68.97M 0.00 71.89M 72.18M 73.54M 73.40M 77.00M 77.70M 77.88M 78.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 43.13M 213.07M 0.00 213.77M 215.37M 215.42M 217.63M 219.07M 219.22M 222.14M 224.42M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -27 -27 -27 -31 -33 -35 -41 -63 -42 -49
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Here are 10 key takeaways from NET Power (NPWR) quarterly results across the last four years, focused on the 2025 period and notable context from earlier quarters. The bullets are ordered to highlight positives first, then neutral observations, then negatives.

  • Healthy liquidity at quarter-end. Cash & equivalents ranged from about $229 million (Q3 2025) to roughly $386 million (Q4 2024), providing a solid liquidity cushion despite ongoing losses.
  • Occasional financing inflows via equity. In Q1 2025, the company raised about $5.8 million through issuance of common equity, contributing a modest cash inflow from financing.
  • Interest income adds ongoing cash support. Interest & investment income was several million dollars per quarter (approximately $4–7+ million across recent quarters), helping cushion cash flow.
  • Investing activity includes occasional cash inflows from asset sales. Sale/maturity of investments produced sizable inflows in some quarters (e.g., about $22.5 million in Q3 2025 and $45.8 million in Q4 2025), contributing to liquidity in those periods.
  • Operating revenue remains minimal. Operating revenue is mostly negligible or zero in many quarters, indicating limited ongoing top-line generation.
  • Redeemable noncontrolling interest is large and recurring. Redeemable noncontrolling interests sit at substantial levels across several periods, which can complicate the equity picture and reflect complex financing/ownership arrangements.
  • One-time impairment hits profitability hard in 2025. A major impairment charge in Q3 2025 was about $1.10 billion, drastically depressing operating and net income for that quarter.
  • Operating cash flow consistently negative in 2025. Net cash from continuing operating activities was negative in each 2025 quarter, signaling ongoing cash burn from core operations.
  • Significant losses and negative earnings per share. Net income attributable to common shareholders was deeply negative in multiple periods (e.g., about -$411.5 million in Q3 2025), with EPS far in the red (Q3 2025 basic/diluted EPS around -$5.28).
  • Balance-sheet signals volatility and structural challenges. Very large redeemable/noncontrolling interests and sizable accumulated deficits contribute to a fragile equity base and a complex balance sheet, which can raise questions for investors about sustainability and ownership structure.

If you’d like, I can tailor a deeper, year-by-year summary or generate a quick table highlighting how revenue, net income, cash flow from operations, and equity metrics evolved quarter-by-quarter over the four-year window.

05/05/26 06:01 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Rice Acquisition Corp. II's Financials

When does Rice Acquisition Corp. II's financial year end?

According to the most recent income statement we have on file, Rice Acquisition Corp. II's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Rice Acquisition Corp. II's net income changed over the last 2 years?

Rice Acquisition Corp. II's net income appears to be on an upward trend, with a most recent value of -$1.67 billion in 2025, rising from -$54.78 million in 2022. The previous period was -$164.64 million in 2024.

What is Rice Acquisition Corp. II's operating income?
Rice Acquisition Corp. II's total operating income in 2025 was -$1.79 billion, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $1.79 billion
How has Rice Acquisition Corp. II's revenue changed over the last 2 years?

Over the last 2 years, Rice Acquisition Corp. II's total revenue changed from $580 thousand in 2022 to $0.00 in 2025, a change of -100.0%.

How much debt does Rice Acquisition Corp. II have?

Rice Acquisition Corp. II's total liabilities were at $64.50 million at the end of 2025, a 51.1% decrease from 2024, and a 52.4% increase since 2021.

How much cash does Rice Acquisition Corp. II have?

In the past 4 years, Rice Acquisition Corp. II's cash and equivalents has ranged from $2.57 million in 2021 to $536.93 million in 2023, and is currently $199.43 million as of their latest financial filing in 2025.

How has Rice Acquisition Corp. II's book value per share changed over the last 2 years?

Over the last 2 years, Rice Acquisition Corp. II's book value per share changed from 1.49 in 2022 to 0.92 in 2025, a change of -38.5%.


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Financial statements for NYSE:RONI last updated on 4/25/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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